Therefore, increasing focus on reducing reliance on fossil fuels to promote sustainable future is fueling the growth of the recycled plastic market. Further, plastic is made up of fossil fuels, for instance, Over 99% of plastic is made from chemicals sourced from fossil fuels. Such initiatives would further promote the plastic recycling activities in the foreseeable future. Furthermore, Nestle is working on the same path by ensuring that all of its packaging, including plastics, is recyclable or reusable by 2025. Further, by 2030, it plans to halve its use of "virgin" plastic, which is not made from recycled goods. similarly, in 2020, PepsiCo committed to eliminate all virgin plastic from its Pepsi brand beverage bottles sold in nine European Union markets by 2022. For instance, in 2018, Coca Cola pledged to make 100% of its packaging recyclable by 2025, and to use 50% recycled material in bottles and cans by 2030.
Furthermore, this statistical market research repository examines and estimates the Recycled Plastics market at the global and regional levels.Įmerging trend of reduce, reuse, and recycle of non-biodegradable things in order to protect the environment and simultaneously improving human health has increased the focus on consumers and public & private bodies on plastic recycling activities. The recycled plastics market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. This innovative report makes use of several analyses to get a closer outlook on the Recycled Plastics market.
The Recycled Plastics market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. The analysis has been segmented into Type (Polyethylene Terephthalate, High-Density Polyethylene, Polyvinyl Chloride, Low-Density Polyethylene, Polypropylene, Polystyrene, and Others) Source (Bottles, Films, Fibers, Rigid Plastics & Foams, and Others) Industry (Packaging, Consumer Goods, Construction, Textile, Transport, Electrical, and Others) Region/Country.Ĭlick here to view the Report Description & TOC 17, 2022 /PRNewswire/ - According to a new report published by UnivDatos Markets Insights, the Recycled Plastics Market was valued at more than USD 40 billion in 2020 and is expected to grow at a CAGR of around 6% from 2022-2028.
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